San Francisco Ballet Endowment Foundation

“Members or stockholders the members of the foundation shall be those persons, and only those persons, who are from time to time members of the san francisco ballet association's board of trustees, and each such person upon election or appointment to said board of trustees shall automatically become a member of the foundation and upon ceasing to be a member of said board of trustees shall automatically cease to be a member of the foundation.”

“Members or stockholders trustees of the foundation are elected by the members for a term of three years.”

“Members or stockholders members shall have, in addition to any other rights which may be granted to them under the by-laws or by the law, the right to vote (1) for the election of trustees, (2) on a disposition of all or substantially all of the foundation's assets, (3) on a merger of the foundation with another corporation, (4) on a dissolution of the foundation, (5) on an amendment of the articles of incorporation and, (6) on an amendment of the by-laws (unless the by-law amendment is approved by the board alone in accordance with the terms of the by-laws).”

“Form 990 review process the form 990 was prepared based on audited financial statements by an independent accounting firm, which was then reviewed by finance management. The foundation provided a complete copy of this form to all members of its governing body with a redaction of donor names and addresses from form 990, schedule b, at the request of the donor. The form 990 was reviewed and approved at a meeting of the audit committee. Subsequent to that review, the form 990 was posted on the foundation's trustee intranet website and trustees were notified in writing of the availability of the form 990 for their review.”

“Conflict of interest policy monitoring & enforcement the foundation distributes the policy and related questionnaire to board members at the beginning of each board year. Return of the questionnaire is monitored and enforced by the board relations manager. Returned questionnaires are reviewed by the cfo for any potential issues or required disclosures. Board members with a conflict are recused from discussions and do not vote on resolutions that pertain directly to their conflict.”

“Process for determining compensation the foundation officers (chief financial officer, assistant secretary, and secretary) are compensated by a related organization, san francisco ballet association. The association's process for determining the compensation of the chief financial officer involved analysis of the compensation by the assessment committee. The process used to determine the compensation of the chief financial officer is disclosed on the association's form 990.”

“How documents are made available to the public due to the age of the organization, form 1023 is currently unavailable for the general public and the organization is exempt from the requirement to provide form 1023, as it was filed prior to the july 15, 1987 requirement date. The organization currently makes its audited financial statements for the most recent ten years available to the public via its website. Form 990, governing documents and conflict of interest policy are also available upon request.”

“The san francisco ballet endowment foundation (the foundation) is responsible for management and oversight-holding of endowment funds for the benefit of san francisco ballet association. The ballet has a policy of appropriating for distribution each year up to a maximum of 5% of its endowment funds' average fair value over the prior twelve quarters years as of june 30, preceding the fiscal year in which the distribution is planned. Typically, the distribution supports new san francisco ballet works and productions, the ballet's orchestra and music, artistic innovation, touring, dance education, scholarships, and the san francisco ballet school. Depending upon market conditions and the needs and available resources of the association, appropriations for expenditure from individual endowments may be temporarily suspended to facilitate preservation of the endowment.”

“Change in value of split interest agreement 157,237. Change in charitable gift annuities 25,000. Change in value - pooled income fund 22,453. Change in discount 5,353.”